Services/ The FinOp Role

Every broker/dealer is required to maintain the services of a FINRA Series 27 Financial and Operations Principal (FinOp).  A FinOp oversees the books and records and monitors a FINRA member firm’s adherence to industry net capital rules, investor protections and others regulations pursuant to the terms of the Securities Investor Protection Act of 1970.

Outsource the FinOp Role

Regulators permit a licensed, outside individual to fulfill the FinOp role.  Outsourcing this role benefits securities firms that choose to engage an experienced FinOp with impeccable credentials over hiring that level of talent in-house.

A CPA firm performing this outsourced function since the early 80′s, S.D. Daniels & Company, P.C. (SDDCO-PC) brings three decades of experience to broker/dealers of all sizes.  Our FINRA Series 27 licensed professionals can assume the FinOp function of your broker/dealer or support your in-house FinOp.

FinOp Functions

SDDCO FinOp services include the onsite supervision of your books and records, monthly accounting and net capital computation, best practices facilitation and the periodic filing of all mandated reports.  An SDDCO-PC FinOp could support or lead all aspects of this mandatory function, including:

Financial Duties

  • Oversight of the member broker/dealer’s books and records
  • Preparation of accurate, timely financial statements and supervision of those who assist
  • Supervision and/or performance of member duties per the Securities Exchange Act of 1934 and SEC uniform net capital rules
  • Computation of the monthly net capital and all related items, such as haircuts
  • Monitoring of net capital compliance reporting

FINRA Filings

  • Financial and Operational Combined Uniform (FOCUS) report, monthly or quarterly
  • Supplemental Statement of Other Income, quarterly
  • Filing the related Schedule I, annually
  • Securities Investor Protection Corporation (SIPC) Report, semiannually
  • FINRA Annual Assessment Report

Authority Assistance

  • Interface with outside auditors during an audit exam
  • Interface with regulators, as needed

FOCUSED SUPPORT

SDDCO specializes
in one industry.

Our knowhow, our network, past and present, support the financial services.

We hold the right training and licensures to keep you in step and mitigate risk.

Our Credentials

SUCCESSFUL CLIENTS

SDDCO supports
industry leaders.

We oversee back office functions so you can focus on your own clients.

Major banks, private funds, RIAs and B/Ds choose us.  SDDCO supports 140 B/Ds.

Our Clients

TOP TALENT

SDDCO is as good
as its great people.

Our CPAs, FinOps and
consultants are licensed,
experienced professionals.

Partner with us for start-ups and for ongoing accounting, compliance and tax work.

Our People

ONSITE OUTSOURCING

SDDCO performs
services onsite.

Outsourced support with
SDDCO isn’t out of sight.

We work in your space and for your team on a regular basis. Engage the expertise without the fulltime hire.

Our Praises

HIGH STANDARDS

SDDCO observes
AICPA principles.

Our inaugural firm began
when two new CPAs opened
a NYC office back in 1952.

We faithfully maintain the CPA standards: integrity, competency, confidentiality….

Our Group